Equis Funds Group, one of Asia's largest independent energy and infrastructure private equity fund managers, has acquired a 47% stake in Chinese natural gas developer and operator Oriental Gas for an undisclosed amount.

Equis' co-investor, Runfar Investment Company, is to take the other 53% of Oriental Gas. The two investors will provide additional capital support to help expand Oriental Gas' business.

Oriental Gas owns four operational and six late stage construction gas pipelines across five provinces in China, supplying piped natural gas to residential, industrial and commercial customers.

We announced in February 2014 that Equis Funds Group is planning to raise US$500 million over the next year to fund solar-energy projects in Japan where the use of renewable energy is expected to at least double over the next 15 years.

In May 2014, we reported that Equis Funds Group had partnered with Philippines-based Asian Greenenergy Corp to build a 12-megawatt (MW) solar plant in Bukidnon, Mindanao.

Equis Funds Group raised Equis Asia Fund l, Equis' debut fund with US$647 million in capital commitments. The fund focuses on investing in energy and infrastructure assets in China, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam.

It seeks to invest in businesses that require US$50 million to US$130 million in equity capital for development, construction and acquisition purposes.